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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: Peter Singleton who wrote (23512)	8/6/1998 6:17:00 PM
From: yard_man	Respond to of 94695

I'm not a technician -- don't believe in it. I just think we'd have to form some kind of base before we could say it's an upturn for the small stocks. I haven't been in a bear market -- I'm pretty new also -- just am convinced that reality is going to be reflected in the overall market pretty soon. I hope we don't crash, but rather that we get a more staged decline.

To: Peter Singleton who wrote (23512)	8/6/1998 6:48:00 PM
From: HairBall	Read Replies (1) \| Respond to of 94695

Peter: It is really simple from my view. An equal move down in the Russell 2000 at its peek would not have provoked questions of "is this the end of the bull market". Then I ask you why, ask the reverse now? I do not try to pick the exact top and I do not try to pick the exact bottom. Close works for me. Time will tell us which way the market is heading. A "down trend" has been established that is what all the hoopla is about. It really is, too early to tell if it has reversed. Look at the daily charts. In the days to come, old support lines have become resistance lines. Look for the ability of indices to break above those lines intra day and then close above those lines. Eventually they must make their way to new highs to re-establish the bull. BWDIK Regards, LG EDIT: Of course if the indices continue to set lower lows, the trend remains down.